Crafting a New World for Microsoft

It says something about Microsoft's acquisition history that spending $2 billion for a popular videogame looks downright frugal.

That alone may be enough to soothe shareholders nervous about reports that Microsoft is in "serious discussions" to buy Mojang—the Swedish company behind the "Minecraft" gaming phenom, which has racked up more than 100 million registered users. The company reported a 60% jump in profit...